CENTRAL TRUST Co lowered its position in Olin Corporation (NYSE:OLN) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,420 shares of the specialty chemicals company’s stock after selling 350 shares during the period. CENTRAL TRUST Co’s holdings in Olin Corporation were worth $315,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in OLN. King Street Capital Management L.P. acquired a new position in shares of Olin Corporation during the first quarter worth $65,740,000. Schwab Charles Investment Management Inc. increased its position in shares of Olin Corporation by 12.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,005,335 shares of the specialty chemicals company’s stock worth $33,046,000 after buying an additional 111,742 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Olin Corporation by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 98,121 shares of the specialty chemicals company’s stock worth $3,224,000 after buying an additional 3,818 shares during the period. BlackRock Inc. increased its position in shares of Olin Corporation by 7,604.7% in the first quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock worth $653,967,000 after buying an additional 19,637,387 shares during the period. Finally, World Asset Management Inc increased its position in shares of Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock worth $333,000 after buying an additional 168 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
Olin Corporation (NYSE OLN) opened at 31.32 on Tuesday. The stock has a 50 day moving average price of $30.00 and a 200 day moving average price of $29.84. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The firm has a market cap of $5.20 billion, a P/E ratio of 109.13 and a beta of 1.44.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. Olin Corporation had a return on equity of 7.40% and a net margin of 0.82%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Equities analysts predict that Olin Corporation will post $1.19 earnings per share for the current fiscal year.
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OLN has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 price target on shares of Olin Corporation in a research report on Tuesday, May 16th. Zacks Investment Research raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Cowen and Company reissued an “outperform” rating and set a $39.00 price target (up previously from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. Bank of America Corporation initiated coverage on Olin Corporation in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Tudor Pickering initiated coverage on Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $32.75.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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